Magners' Marketing Director Maurice Breen, said: ‘Having undergone a strategic review of our existing sponsorships we are announcing that our sponsorship of London Wasps is to conclude at the end of this season'.
Magners is also the sponsor of the Magners League, which last year was won by Irish side Leinster.
Seperately, Barclays has ended its title sponsorship of the Barclays Churchill Cup after three years.
The Churchill Cup acts as a springboard for rising rugby stars to cut their teeth before breaking into the national team. Last year, the final saw England Saxons defeat Scotland ‘A' to win the tournament for the fourth time in six years.
A spokesman for the bank confirmed that finance giant had taken the decision not to renew the deal.
Barclays is one of the world's largest investors in sports sponsorship, with Barclay's Premiership as the jewel in the crown.
Barclays also has a 20 year agreement to title sponsor the Barclay's Center in New York, soon to become home to the New Jersey Nets basketball team.
Other high profile Barclay's sponsorship deals include tennis and golf.
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